Sat. Jan 16th, 2021

UK consumer confidence stuck at lowest level in six years – business live

Rolling coverage of the latest economics and financial news as investors react to UK data showing consumer confidence flatlined in November

8.03am GMT

Energy company npower could also end up closing most of its sites in the UK as a result.

It’s part of a two year restructuring plan meant to boost profits for its German owner E.ON.

They’ve been worried about their jobs for months. Now their worst fears have been realised, less than a month before Christmas.

Related: Npower to cut up to 4,500 jobs as part of restructuring plan

7.51am GMT

Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.

Brexit uncertainty and the potential outcome of the 12 December general election are still spooking consumers, who are in “wait and see mode” until the dust settles.

Uncertainty is nobody’s friend. So, while many issues are under the spotlight in this election, political parties will need to satisfy voters that they will be effective for the wider economy and that, as a consequence, people will be better off next year and beyond. Consumers need to be convinced they will be able to balance their personal accounts beyond ‘just about managing’. Fantasy economics alone will not guarantee votes.

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